Adani Green Energy, the renewable energy arm of the Adani Group, today announced financial results for the quarter and nine months ending December 31, 2023. The company’s net profit improved by 148.54% to ₹256 crore in Q3 compared to a net profit of ₹103 crore reported in the same period last year. Looking sequentially, the consolidated net profit dropped by 31%.
The company’s revenue surged to ₹1,765 crore from ₹1,258 crore in the year-ago quarter, which is an increase of 40.30% YoY.
The company’s sale of energy witnessed a remarkable 59% YoY rise to 16,293 million units, supported by robust capacity addition of 1,154 MW over the past year and an improved capacity utilisation factor (CUF), according to the company’s earnings report.
(Please note that this is a developing story, and updates will be provided shortly.)
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Published: 29 Jan 2024, 01:56 PM IST